Guideline Value for MIN NAGAR

Min Nagar guideline value

The current guideline value of Min Nagar, located in Vallur village under the Thiruvottiyur SRO, is Rs 220 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Min Nagar has changed

Over the years, the guideline value of Min Nagar has seen several revisions. The most recent revision in 2024 set the guideline value at Rs 220 per sq.ft, an increase from Rs 200 per sq.ft in 2023, marking a change of +10%. Prior to that, in 2017, the guideline value was Rs 134 per sq.ft, which indicates a significant increase of +49% from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has risen by +64%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. This lack of data means we cannot assess any changes during those years.

Guideline values in Vallur

In Vallur village, there are 75 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 551 per sq.ft. The median guideline value is Rs 220 per sq.ft, which is equal to the current value of Min Nagar.

• Mugambigai Nagar: Rs 220 per sq.ft (2024)
• M.C.Raja Street: Rs 220 per sq.ft (2024)
• Maruthi Puram: Rs 220 per sq.ft (2024)
• Maruthi Nagar: Rs 330 per sq.ft (2024)
• Muthu Mariamman Nagar: Rs 220 per sq.ft (2024)
• Maheswari Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Min Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total cost for these fees to Rs 19,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Min Nagar?

The Sub Registrar Office that covers Min Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Vallur

The guideline value is a crucial factor in the registration process for property transactions in Vallur. It serves as a benchmark for determining the minimum value of a property, which is used to calculate the stamp duty and registration fees applicable during the sale or purchase of the property.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly influences the costs associated with registration. Buyers should ensure that they are prepared for these expenses based on the guideline value set for the property in question.

Frequently asked questions

What is the current guideline value of Min Nagar?

The current guideline value of Min Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 134 per sq.ft to Rs 220 per sq.ft in 2024, marking an overall rise of +64%.

What are the stamp duty and registration fees for a property in Min Nagar?

For a property valued at Rs 2,20,000, the stamp duty would be Rs 15,400 and the registration fee would be Rs 4,400, totaling Rs 19,800.

Which office handles property registrations for Min Nagar?

The Thiruvottiyur Sub Registrar Office is responsible for property registrations in Min Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for Min Nagar?

Min Nagar falls under the Residential Class II Type - I land classification, which is relevant for property transactions and assessments in the area.